Chapter 8 Buying a House Crossword

a person who rents a house or apartment
the person or people that own a rented house or apartment
a form of home ownership where each unit is individually owned
The money given to the landlord from the tenant as protection in the event that the tenant causes damage to the rented property; refunded when the tenant moves out if there is no damage, and can range from 1 to 4 month’s rent.
A mortgage in which the monthly payment and the APR may change, as specified in the signed agreement.
The act by a bank of taking possession of a home when the homeowner cannot pay the mortgage.
Required by mortgage holders, a type of insurance that covers damage to the home due to fire and other natural disasters; also covers the contents of the home in case of theft or vandalism.
a factor banks use when deciding whether to lend money for a mortgage; ideally <28%
a factor banks use when deciding whether to lend money for a mortgage; ideally <36%
A ratio of monthly expenses to monthly gross income; offers a realistic view as to where a person stands financially with the amount of debt presently being carried.
The money the bank collects from borrowers, for insurance and property taxes; the bank pays those bills for the homeowner when they are due.
costs that occur on a regular basis
one-time costs
What % of gross income people should spend on rent?
The earnest money, or good-faith deposit, is the money paid to the seller by an interested buyer to show that the buyer is serious about buying the house.